Analysts expect FARO Technologies, Inc. (NASDAQ:FARO) to post $90.81 million in sales for the current fiscal quarter, according to Zacks. Three analysts have made estimates for FARO Technologies’ earnings. The highest sales estimate is $93.00 million and the lowest is $88.00 million. FARO Technologies posted sales of $79.60 million during the same quarter last year, which suggests a positive year-over-year growth rate of 14.1%. The business is scheduled to report its next quarterly earnings report on Tuesday, November 7th.
According to Zacks, analysts expect that FARO Technologies will report full-year sales of $90.81 million for the current financial year, with estimates ranging from $346.00 million to $360.00 million. For the next fiscal year, analysts anticipate that the business will report sales of $388.84 million per share, with estimates ranging from $365.00 million to $406.35 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow FARO Technologies.
FARO Technologies (NASDAQ:FARO) last announced its quarterly earnings data on Tuesday, August 1st. The scientific and technical instruments company reported ($0.22) EPS for the quarter, missing the consensus estimate of $0.12 by $0.34. FARO Technologies had a negative net margin of 0.13% and a negative return on equity of 0.13%. The firm had revenue of $82.68 million for the quarter, compared to analyst estimates of $87.65 million. During the same quarter in the prior year, the firm earned $0.20 earnings per share. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis.
Several analysts have recently weighed in on FARO shares. Craig Hallum started coverage on shares of FARO Technologies in a research report on Tuesday, June 27th. They set a “buy” rating and a $45.00 price objective on the stock. Zacks Investment Research upgraded shares of FARO Technologies from a “hold” rating to a “buy” rating and set a $39.00 price objective on the stock in a research report on Tuesday, April 25th. Noble Financial restated a “buy” rating on shares of FARO Technologies in a research report on Thursday, August 3rd. Canaccord Genuity restated a “buy” rating on shares of FARO Technologies in a research report on Thursday, May 11th. Finally, Needham & Company LLC lowered their price objective on shares of FARO Technologies from $38.00 to $37.00 and set a “buy” rating on the stock in a research report on Thursday, May 11th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. FARO Technologies currently has an average rating of “Hold” and a consensus target price of $40.60.
Shares of FARO Technologies (NASDAQ:FARO) traded up 1.07% on Wednesday, hitting $32.95. 92,871 shares of the stock traded hands. The stock has a 50-day moving average price of $36.97 and a 200 day moving average price of $35.98. FARO Technologies has a 52 week low of $29.00 and a 52 week high of $40.60. The firm’s market cap is $550.53 million.
Institutional investors have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. purchased a new position in FARO Technologies during the first quarter worth about $116,000. State of Alaska Department of Revenue boosted its position in FARO Technologies by 79.0% in the second quarter. State of Alaska Department of Revenue now owns 3,294 shares of the scientific and technical instruments company’s stock worth $124,000 after buying an additional 1,454 shares during the last quarter. Mason Street Advisors LLC boosted its position in FARO Technologies by 7.1% in the first quarter. Mason Street Advisors LLC now owns 3,901 shares of the scientific and technical instruments company’s stock worth $139,000 after buying an additional 257 shares during the last quarter. Municipal Employees Retirement System of Michigan boosted its position in FARO Technologies by 3.4% in the second quarter. Municipal Employees Retirement System of Michigan now owns 3,930 shares of the scientific and technical instruments company’s stock worth $149,000 after buying an additional 130 shares during the last quarter. Finally, Karp Capital Management Corp purchased a new position in FARO Technologies during the first quarter worth about $207,000. Hedge funds and other institutional investors own 92.76% of the company’s stock.
FARO Technologies Company Profile
FARO Technologies, Inc designs, develops, manufactures, markets and supports software driven, three-dimensional (3D) measurement, imaging and realization systems. The Company operates in three segments: Factory Metrology, Construction BIM-CIM and Other. It sells its products through a direct sales force across customers in a range of manufacturing, industrial, architecture, surveying, building construction and law enforcement applications.
Get a free copy of the Zacks research report on FARO Technologies (FARO)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for FARO Technologies Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FARO Technologies Inc. and related companies with MarketBeat.com's FREE daily email newsletter.
